Chinese 304 grade stainless HRC prices go down
2017-07-21 08:52:14 [Print]
BEIJING (Asian Metal) 21 Jul 17 - Chinese 304 grade stainless HRC prices see a downward trend at present on decrease in steel mills’ list prices and weak customer demand after the sharp increase early this week. Current mainstream market prices of 304/No
A Wuxi-based distributor of 304 grade stainless HRC told Asian Metal that the price is going down for the time being. His price for 304/No . 1 6.0mm*1,520mm*C from Eastern Special Steel is RMB14,000/t (USD2,070/t) VAT included, down by RMB200/t (USD30/t) compared with that of last trading day.
The source attributes the price decrease to lower purchase cost. According to him, Eastern Special Steel reduced the list price of 304/No . 1 (4 . 0-12.0)mm*1,520mm*C by RMB100/t (USD15/t) to RMB14,250/t (USD2,107/t) VAT included on 20th July. “Because of higher raw material costs of nickel and increase in steel mills’ list prices, I raised prices by RMB800/t (USD118/t) early this week,” he said . However, as prices kept going up and down recently, customers without urgent need for materials are just holding a wait-and-see attitude now and refusing to place orders . The source had few deals concluded this week against the sales volume of about 1,000t for last month . With an inventory of about 500t, the source supposes the price is likely to decrease further in the next few days.
Another local trader confirmed the price decrease. His price for 304/No . 1 4.0mm*1,520mm*C from Eastern Special Steel is RMB14,000/t (USD2,070/t) VAT included, down by RMB200/t (USD30/t) compared with that of last trading day.
According to the source, the price is still about RMB400/t (USD59/t) higher than that one week ago. “The price increase these days is mainly because of higher raw material prices and increase in steel mills’ list prices, while demand from downstream customers continues to be weak amid the traditionally low season,” he said, adding that his current sales volume is less than 20tpd against that of around 900t for last month . With an inventory of below 500t in hand now, the source said most traders refuse to build large stockpiles in view of higher purchase cost and weak customer demand . He believes the market sales performance is unlikely to become better in the following days.
. 1 (4 . 0-12.0)mm*1,520mm*C from Eastern Special Steel are about RMB14,000/t (USD2,070/t) VAT included by D/P in Wuxi, Jiangsu province . Insiders think the market will keep quiet in the coming days.
A Wuxi-based distributor of 304 grade stainless HRC told Asian Metal that the price is going down for the time being. His price for 304/No . 1 6.0mm*1,520mm*C from Eastern Special Steel is RMB14,000/t (USD2,070/t) VAT included, down by RMB200/t (USD30/t) compared with that of last trading day.
The source attributes the price decrease to lower purchase cost. According to him, Eastern Special Steel reduced the list price of 304/No . 1 (4 . 0-12.0)mm*1,520mm*C by RMB100/t (USD15/t) to RMB14,250/t (USD2,107/t) VAT included on 20th July. “Because of higher raw material costs of nickel and increase in steel mills’ list prices, I raised prices by RMB800/t (USD118/t) early this week,” he said . However, as prices kept going up and down recently, customers without urgent need for materials are just holding a wait-and-see attitude now and refusing to place orders . The source had few deals concluded this week against the sales volume of about 1,000t for last month . With an inventory of about 500t, the source supposes the price is likely to decrease further in the next few days.
Another local trader confirmed the price decrease. His price for 304/No . 1 4.0mm*1,520mm*C from Eastern Special Steel is RMB14,000/t (USD2,070/t) VAT included, down by RMB200/t (USD30/t) compared with that of last trading day.
According to the source, the price is still about RMB400/t (USD59/t) higher than that one week ago. “The price increase these days is mainly because of higher raw material prices and increase in steel mills’ list prices, while demand from downstream customers continues to be weak amid the traditionally low season,” he said, adding that his current sales volume is less than 20tpd against that of around 900t for last month . With an inventory of below 500t in hand now, the source said most traders refuse to build large stockpiles in view of higher purchase cost and weak customer demand . He believes the market sales performance is unlikely to become better in the following days.